I came from a company that is well known within the rank and file for having stealth layoffs. It was just enough to stay under the radar so to speak. I haven’t been here that long, less than a year. I am hoping there isn’t anything of the sort that happens here but I do want to know if there is. Are stealth layoffs a thing here?
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At the end, they'll ask you what did you expect? The lie that everyone with client facing positions will have a job is to keep you till the very end, promoting the lie that Truist cares. The fact that they told us they would be consolidating branches is their way of saying they were transparent.
I would be honest with your clients, the lie doesn't have to continue through you. I would ask they if they are willing to pay a stay bonus if you know there is no available positions in another branch. Furthermore, I'd start looking now if you can for another position outside Truist.
Keep us posted and good luck!
Well they just closed our branch and 7 others in our area. Not sure if it counts as a layoff, because they are saying they will “allow us to keep our jobs at a new location”. Mind you I live in a rural area and with 8 total branches closing, we are all looking at driving 2.5+ hours to and from work every day. They dropped it on us out of nowhere (we are top producers for our area, even though we are understaffed), and haven’t been able to answer questions such as severance or where they will send us. They just want us to ride it out until the doors close. Oh, and they gave us a teammate notification “toolkit” which said nothing about employees or what we can expect. Instead it instructs us on what to tell clients and how to close safe deposit boxes.
Small targeted layoffs were routine at BB&T. But what large corporation doesn’t?
In my 10 plus years at BB&T, layoffs were mostly done quietly and never at the branch level. Mergers always began with months of hiring freezes, stressing the branches until employees quit. I watched our best employees leave during the last few years of my time with the bank. Beware if this sounds familiar to you - it's nothing new. This bank fears bad publicity above all things!
Apparently you wonderful “teammates” have worked and lived under rocks your entire careers. “Stealth” layoffs is an ongoing COB. Every company of any size is constantly laying off workers at all levels. Do they announce it, no, only when it is situations of mergers, new technology or financial devastation do they publicly state a percentage of the work force will be cut. Jeeezuuus can you people really be that out of touch with reality. Damn I thought millennials were stupid and entitled, but some of you…
Continual layoffs is, and will be, an ongoing financial strategy at Truist until they wind this bank down. While the vast majority of departures are indeed unannounced, I don’t believe it is because they are specifically trying to be “stealthy”. My experience is that management at Truist doesn’t see their employees as human beings, so empathy towards their workforce is not something they even comprehend. The absence of departure announcements is not intentional in my opinion, it is that doing the “right” thing is totally foreign to the new management at Truist.
There are.